Timeliness, Accuracy, and Relevance in Dynamic Incentive Contracts examines managerial performance measures from the perspective of timeliness, accuracy, and relevance in multi-period incentive problems. The authors use a simple linear framework where managerial actions do not affect risk and compare and contrast consumption risk for a manager's preferences with single and multiple consumption dates, respectively. Both full commitment to and renegotiation of long-term contracts are considered. Under full commitment, timely and accurate information is usually relevant and desirable; the...